Ahhhhh, Spring has finally arrived in full (this is the first year in many that I can remember that we haven't had snow in April) and Home buying activity has picked up in the area. There's a lot of interest in the tax credits that expire at the end of April and there doesn't seem to be much expectation that it'll be extended yet again.
Trends for Northwest Allen County (Perry, Lake and Eel River Townships) in March for existing home sales looked much like February with a slight increase in the number of units sold, a decrease in the ppg (price per square foot) and a small decrease in median sales price year over year.
For Homes Sold in March 2009 and 2010
There was one more home sold this March compared to March a year ago (44 vs 43), a 7.5% decrease in median sales price (unadjusted for comparable square footage) and a 3% decrease in price per square foot year over year. Number of Homes sold was up 25% from February, unadjusted median sales price dropped 17% from February and Price per Square Foot slid 6% from February. While there were pockets of strength in certain areas for certain homes, the market continues to search for it's bottom as existing home sales continue to increase as prices continue to decline. Buyers are seeing value (and the end of the tax credit looming) as the cumulative days on market (cdom) reached an unbelievable median 31 days in March compared to 112 days a year ago and 93 days just a month ago.
Median Sales Price for Northwest Allen County in March
There are many factors that determine the value of your particular home, this report is meant to give an overview of Northwest Allen County and not meant to be used to evaluate the value of your home. If you are interested in having an evaluation done on your home, please feel free to contact me at your convenience and I would be glad to discuss with you what I think the market would bring for your particular circumstance.
I have over 30 years experience of living in the Fort Wayne area and over 10 of those in Northwest Allen County. I am proud to call this area my home with all the local shopping, entertainment, amenities and a great public school system that my own children attend. Please feel free to contact me with any questions you may have regarding the current Real Estate Market in your area or to find out more about Northwest Allen County.
Brian Kuhns, REALTOR
Coldwell Banker Roth Wehrly Graber Realtors
(260) 489-2485 ext 8487
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